Iran Ready To Increase Oil Exports Shortly After Sanctions Are Lifted

Tehran, July 27, IRNA – A senior official at the National Iranian Oil Company (NIOC) has voiced Tehranˈs readiness to increase oil exports shortly after the anti-Iran sanctions are lifted. NIOC Director for International Affairs Mohsen Qamsari told IRNA that Iran can increase its daily oil exports up to four million barrels. Qamsari added Iranˈs traditional clients, including Greece and Spain, will return to its oil market when the Western sanctions are lifted. However, he stressed that the return of the traditional clients depends on the outcome of Iranˈs nuclear talks with Group 5+1. After removal of the sanctions, Iran will be capable of retrieving its previous status in the world energy market within a reasonable period of time. India, China, Turkey, Japan and South Korea continued purchasing oil from Iran after signing of the Geneva deal between Iran and G5+1. On November 2013, Iran and the world six powers (US, Russia, Britain, France and China plus Germany) made an interim deal in the Swiss city for a period of six months (ended on July 20, 2014) during which the relevant countries hope to seal a final comprehensive deal that would ultimately result in the permanent lifting of all sanctions against Teheran. The last round of Iranˈs nuclear talks with the worldˈs sextet called the Vienna 6 talks, took place in the Austrian capital from July 2-20. At the end of Vienna 6 nuclear talks a document was published based on which the Geneva Agreement was extended for 4 months, during which the US agreed to release another 2.8 billion dollars of Iranˈs blocked assets and lift insurance sanctions./end